Banking Awareness Quiz-2

Some banks are financing projects like "Construction Roads/Bridges etc.Financing such projects means banks are helping exactly in ?

(1) Developing Core Sector Industry

(2) Project Management

(3) Infrastructural Development

(4) Financial Inclusion

(5) All of these

Which of the following is NOT a Nationalized Bank in India?

(1) Union Bank of India

(2) Central Bank of India

(3) Yes Bank

(4) Syndicate Bank

(5) Indian Bank

Sub-prime lending refers to ?

(1) lending to the customers who are most valued for the bank.

(2) lending to the customers who come to the bank for the very first time

(3) lending to the people with less than standard credit status

(4) lending to the people who live a sub-standard life.

(5) None of these

Which of the following cannot be a feature of  a Debit card?

(1) These cards cannot be used as POS Centres

(2) Banks earn huge amount as penalties for defaulting on payment through these cards.

(3) Can be used normal withdrawals.

(4) Only 1 and 2

(5) All 1,2 and 3

The Banking Ombudsman

(1) is in charge of bank loans for buses

(2) fixes the rates of interest for loans

(3) resolves complaints of customer

(4) is the head of all nationalized bank

(5) none of these

The drawee of a cheque can be ?

(1) one person

(2) two person

(3) any legal or juristic person

(4) a bank

(5) none of these

The following contains an order to pay money ?

(1) Bill of exchange

(2) Cheque

(3) Promissory Note

(4) Only (1) and (2)

(5) None of these

 When a bank returns a cheque unpaid, it is called ?

     (1) payment of the cheque
     (2) drawing of the cheque
     (3) canceling of the cheque
     (4) dishonour of the cheque
     (5) taking of the cheque

 NEFT means ?

     (1) National Electronic Funds Transfer system
     (2) Negotiated Efficient Fund Transfer system
     (3) National Efficient Fund Transfer solution
     (4) Non Effective Fund Transfer system
     (5) Negotiated Electronic Foreign Transfer system

Upper limit prescribed for RTGS transaction is ?
     (1) Rs. 1 lac
     (2) Rs. 2 lacs
     (3) Rs. 5 lacs
     (4) Rs. 50 lacs
     (5) No upper limit is prescribed

Lower limit prescribed for RTGS transaction is ?

     (1) Rs. 1 lac
     (2) Rs. 2 lacs
     (3) Rs. 5 lacs
     (4) Rs. 50 lacs
     (5) No Lower limit is prescribed

 In order to attract more foreign exchange the Government of India decided to allow foreign
 investment in LLP firms. What is full form of ‘LLP’ as  used in this reference?

     (1) Local Labour Promotion
     (2) Low Labour Projects
     (3) Limited Loan Partnership
     (4) Longer Liability Partnership
     (5) Limited Liability Partnership

Interest on Saving bank account is now calculated by  banks on ?

     (1) minimum balance during the month
     (2) minimum balance from 7th to last day of the month
     (3) minimum balance from 10th to last day of the month
     (4) maximum balance during the month
     (5) daily product basis

When the rate of inflation increases ?

     (1) purchasing power of money increases
     (2) purchasing power of money decreases
     (3) value of money increases
     (4) purchasing power of money remains unaffected
     (5) amount of money in circulation decreases

 The Unit Trust of India came into existence in ?

     (1) 1960      (2) 1962   (3) 1964     (4) 1966   (5) 1968

Mutual Funds fall within 7 supervisory purview of ?

     (1) SBI
     (2) RBI
     (3) SEBI (Securities Exchange Board of India)
     (4) IRDA
     (5) None of these

 Which of the following does not come under the category of Development Banks?

    (1) Industrial Development Bank of India
    (2) Small Industries Development Bank of India
    (3) Industrial Investment Bank of India
    (4) State Finance Corporation
    (5) Export-import Bank

Financial institutions ?
    (1) promote savings
    (2) mobilise savings
    (3) allocate savings among different users
    (4) All of the above
    (5) None of the above